Seth146 Seth146
  • 24-05-2022
  • Mathematics
contestada

Can you help show steps please?

Can you help show steps please class=

Respuesta :

MrRoyal
MrRoyal MrRoyal
  • 27-05-2022

The savings account is an illustration of compound interest and the future amount is $283.81

How to determine the future amount?

The given parameters are:

Principal, P = 200

Rate, r = 5%

Time, t = 7

The equation of the future amount is given as:

[tex]A = Pe^{rt}[/tex]

So, we have:

[tex]A = 200 * e^{5\% * 7}[/tex]

Evaluate

A = 283.81

Hence, the future amount is $283.81

Read more about compound interest at:

https://brainly.com/question/24924853

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